LEAP WEBSITE AND APPLICATION: TERMS & CONDITIONS

Welcome to our website www.savewithleap.com (the “Website“) and/or our mobile application (“Application”) which are owned and operated by Leap Technologies Ltd  for its own benefit and the benefit of its affiliates and subsidiaries (hereinafter referred to as “Leap”, “we”, “us”,”our”) in the United Arab Emirates.

Leap is a financial literary software company incorporated under the laws of the Dubai International Financial Centre (DIFC), United Arab Emirates, with commercial license number CL4548 and its registered office at Unit 201, Level 1, Gate Avenue-South Zone, DIFC, Dubai, United Arab Emirates.

The Leap Services (see definition below) are facilitated pursuant to BIN sponsorship by Mashreq Bank which will issue the card (“Issuing Bank”) and programme management and card/transaction processing by Nymcard Payments Limited (“Programme Manager”).  You will need to enter into a Card Agreement which sets out your agreement with these parties in order to use the Leap Services. Your Card is non-transferable, and it may be cancelled, repossessed, or revoked at any time without prior notice subject to applicable law or non-compliance of the Card Terms and Conditions. 

The products and services mentioned on this webpage belong to Leap services as a financial technology company and not a bank. The Leap services do not offer or provide any banking or financial services either through itself or affiliated entities. The Leap services provides certain facilities for utilization of payment services through Nymcard Payment Services LLC. The “Leap” card is issued by Mashreq Bank PSC, pursuant to license by Visa. Visa is a registered trademark of Visa Inc. Nymcard Payment Services LLC is authorised by the Central Bank of The UAE, holding the Retail Payment Services and Card Schemes license in accordance with the Decretal Federal Law No. (14) of 2018 regarding the Central Bank & Organization of Financial Institutions and Activities, and Regulatory Framework. 

Defined terms used in these terms and conditions are defined below within the text or set out in the Definitions section.

Website, Application and Leap Services Terms

Please read these terms and conditions as these, along with, the and any product service & price terms together constitute the terms (“Terms”) governing your utilisation of our Website, Application or any of the Leap Services (defined below).

We may change these Terms from time to time without notice to you by posting the updated Terms on the Website or the Application, so please be sure to check regularly for updates. When you use our website or any of the Leap Services, you are deemed to have consented to the latest version of the Terms then posted on our Website or Application.

By using the Website, Application or by subscribing for Leap Services you agree to be bound by the Terms and to comply with all applicable laws regarding your use of the Website, the Application and or any Leap Services.

You can contact us on hello@savewithleap.com or by calling the helpline on +971 6005 0 5005 (“Helpline”) which is also set out on the back of the Card for your convenience.

Leap Products and Services

Leap has developed financial education software that provides parents with tools that enable them to teach their children how to be financially responsible and independent. Any person over the age of 21 (“User”) can set up a Leap Account using the Website or the Application.  A User can then nominate their children aged 6-18 as child users (“Child User”).  The Application has a different user interface for Users and for Child Users. 

Users can subscribe for a virtual or physical Prepaid Card and a Savings Bucket on the Child User’s behalf that is linked to the User’s Leap Account. 

Parents can top up the Prepaid Card with their child’s pocket money, track spending habits of their child and set any spending parameters or restrictions on Transactions on a Prepaid Card.  The crediting of a child’s allowance can be automated.  Using the child’s version of the Application, a child can track pocket money deposits, view Prepaid Card balances and Transactions.  The child can use the Prepaid Card worldwide to pay for goods and services wherever Visa is accepted or to draw out cash from an ATM that accepts the card.

The Savings Bucket is designed to help educate children about savings.  Parents or Children can specify a savings goal/plan. Any funds credited to a Savings Bucket can only be used for Transactions once they are transferred, with the approval of a parent to a Prepaid Card issued to the same Child User.  Please note that if a savings goal has been specified any unspent amounts standing to the credit of a Prepaid Card at the end of any automated allowance cycle will automatically be transferred to the Savings Bucket.  If there is no allowance credited then this transfer will not take place to ensure that the child has money on their Prepaid Card.  A child can also manually transfer money from their card to this Savings Bucket at any time.

Parents are able to set their children daily or recurring weekly tasks; Tasks are a fun way to help teach children how to earn extra pocket money. A parent can create a task of their choosing, enter a due date, and the amount of money the child will receive for completing the task. On completion of these tasks, and with parent approval,  the reward will be posted directly to the Child’s Prepaid Card.

(together the “Leap Services”)

Please note:

Neither the Prepaid Card nor the Savings Bucket are an actual bank account and therefore do not earn interest on funds credited.  The Prepaid Card is not a credit card therefore can only be used when there are sufficient funds credited to it. 

Leap does not hold any consumer funds or oversee or manage use of the Prepaid Card or the Savings Bucket.  Any User funds related to the Leap program described in these Terms are held by the Issuing Bank and your card usage, processing and authorisations are managed by the Programme Manager.

Setting up a Leap Account

A User has to register for a Leap Account and then sponsor their children as Child Users in relation to that Leap Account.  The User can apply for a Prepaid Card on behalf of the Child User and a Savings Bucket will automatically be created for that Child User.  If you have and use a physical Prepaid Card and a virtual Prepaid Card at the same time, both forms of your Prepaid Card will be associated with one primary account number, which will allow you to access the funds available in your Card Account. The User is the responsible party for the Leap Account and for any associated Card Account. 

If you’re a parent or legal guardian, and you allow your child to use the Leap Services, then these Terms apply to you and your child and you are responsible for any Child User’s activity on the Website and Application and/or use of Leap Services. The User takes full responsibility and will be entirely liable for any sponsored Child User to Leap, the Programme Manager and the Issuing Bank.  

KYC

We will need to collect information when setting up any new Leap Account and the Programme Manager shall oversee and manage this process.  The User must ensure correct information is provided so there are no issues with set up of their Leap Account.

Any User will need to provide their full legal name, home address, email and phone contact details and place of birth.  They will also need to provide details related to their employment including details related to remuneration and provide a scan of their Emirates ID.  The Application also undertakes a face scan to be able to verify the identity of any User. 

For any Child User a User will need to provide full legal name,  email and phone contact details and place of birth and relationship to the User and provide a scan of the Child User’s Emirates ID. 

It is your ongoing responsibility to make sure that any personal and payment details you provide to us are valid, accurate and complete and are kept secure. You can update your details on the Application or by contacting the Programme Manager’s Helpline.  Please keep your account details and password confidential and secure. Our customer service agents will never ask you for your password. We are committed to complying with our Privacy Policy but are not responsible for any loss suffered through misuse of those details. Please notify us as soon as possible if you believe your account has been compromised.

You agree to immediately notify us if there is unauthorized use or breach of your Leap Account.

Privacy & Cookie Policy

Please refer to our for details on how we deal with your data.

User Restrictions

As a condition to using Leap Services, the Website, and/or the Application, each User or Child User warrants that they:

• are a resident in the United Arab Emirates;

• are not a Politically Exposed Person (PEP) or subject to any sanctions;

• will not use the Leap Services, the Website, and/or the Application for any purpose that is unlawful or prohibited by these Terms.

Each User and Child User further understands and undertakes that they will not (i) intentionally interfere with, alter, or damage operation of the Leap Services, the Website, the Application, or any user’s enjoyment of either the Leap Services, the Website, or the Application by any means; (ii) attempt to gain unauthorized access to the Leap Services, the Website, the Application, or any part of either the Leap Services, the Website, or the Application, or other accounts, computer systems, or networks connected to the Leap Services, the Website, or the Application; or (iii) disable, circumvent, or otherwise interfere in any way with Leap’s security-related features. 

If you fail to comply with any of the restrictions in this clause we may terminate your account and you may also be subject to civil and/or criminal liability.

Leap Fees

By subscribing to our services, you acknowledge and agree to the following terms and conditions:

1. Individual Monthly Plan: For a monthly fee of 20 AED, you’ll have access to our services on a month-to-month basis.

2. Individual Annual Plan: Enjoy a discounted rate of 15 AED per month (billed annually at 180 AED) by choosing our Individual Annual Plan.

3. Family Monthly Plan: Experience the benefits of our services for your entire family (up to 4 kids) at 35 AED per month.

4. Family Annual Plan: Opt for the Family Annual Plan and pay only 28 AED per month (billed annually at 336 AED) to cover your family’s needs.

If a subsequent child is added the fee will be prorated so that all fees are collected on the same day.  If there are not sufficient funds in the parent’s Card Account to cover the fees you will be given a grace period of 5 days to recharge your account failing which the Leap Account will be suspended until payment has been made. 

Use of Cards

Your Leap Prepaid Card can be used worldwide both in store and online to pay for goods and services wherever Visa is accepted provided there are sufficient funds available on the Prepaid Card.  The Prepaid card can also be used to draw out cash at an ATM that accepts the Prepaid Card provided there are sufficient funds to the credit of the Prepaid Card.

Please refer to the Card Agreement for details of your rights and obligations in relation to the use of any Prepaid Card, any disputed Transactions and chargebacks.

All Transactions undertaken in relation to the Prepaid Card can be viewed on the Leap Account.  These will be displayed solely in AED applying the current conversion rate being offered by the payment network at the time.  Please note that it is your responsibility to ensure that there are available funds for any Transaction and this applies to any subscription that a Child User subscribes to as well.

User acknowledges that Leap is only providing a platform to facilitate monitoring, set controls and consolidate information relating to the Card Account and Transactions.  The Prepaid Card is issued by and is the property of the Issuing Bank.

Leap, the Programme Manager and Issuing Bank shall be entitled to assume that the following Transactions have been authorized by a User:

• Prepaid Card is inserted into a chip and PIN device;

• Prepaid Card PIN is entered or a sales slip is signed;

• Relevant security information (eg 3 digit code at the back of the card) was provided to a merchant allowing them to process a transaction

• Prepaid Card is tapped against a contactless enabled reader and accepted by the reader.

Availing the Card:

A virtual card is available immediately for use once it is activated.  A physical card will be delivered within 7 working days and the details of the delivery shall be communicated via the Application or by email.  Each Prepaid Card will have an expiry date but shall be automatically renewed unless a User elects to cancel the Prepaid Card. 

Restrictions on Card Usage

Please refer to the  for details on restrictions relating to your use of any Prepaid Card. 

The monies standing to the credit of a Savings Bucket cannot be used to make Transactions and the funds need to be transferred to a Prepaid Card in order to be used.  Leap has automatically applied some restrictions in relation to blocked retailers given the Child Users are younger than 18 years old.  Examples of blocked retailers include, but are not limited to online or offline betting/gambling sites, alcohol establishments and adult entertainment.  Leap reserves the right to limit the amount and frequency of Transactions that a User or Child User may execute. Leap further reserves the right to introduce or amend any limits imposed in relation to any Transaction or proposed Transaction.

Please note that there may be additional restrictions imposed on transactions by the payment network being used and it is the User and Child User’s responsibility to ensure that they are compliant before initiating a transaction.  For instance Apple Pay does not permit anyone younger than 13 and Google Pay does not permit anyone younger than 16 from initiating a transaction. 

Loading your Card

Please refer to the for details on your rights and obligations relating to any Card or Transactions, details on how to load funds onto and your use of the Prepaid Card. 

User may load funds onto the Card Account on the Application using a UAE debit card or via bank transfer. Please note there is no fee when funds are transferred from your bank account but there may be a fee charged by your network provider when using a debit card to load funds. Your payments go into your Card Account held with the Issuing Bank and subject to any restrictions set in the Leap Account can be used by a Child User to carry out Transactions. 

Any bank or payment details are entered on sites hosted by the Programme Manager and held securely as with any other banking transaction. Leap does not hold onto any payment details.

Leap shall in no way be responsible for any acts or omissions by the Programme Manager, Issuing Bank or any other payment network.

Notifications and Security Codes

Please refer to the for details on your rights and obligations relating to notifications and security codes whilst using the Leap Services. 

The User acknowledges that any Leap Account balance given to the User through the use of mobile notifications and email notifications shall not for any purpose whatsoever be taken as a conclusive statement of the Card Account with the Issuing Bank or of Prepaid Card usage.

The User acknowledges that in the future, the Programme Manager or Issuing Bank may send mobile notifications and email notifications and triggers to their registered mobile or email address. 

The User is liable for the usage of the security codes and any other authentication methods used to access any of the services under Leap Services.

Intellectual Property Rights

Leap owns or has licensed to it any Intellectual Property and these are protected by applicable patent, copyright and other intellectual property laws and international conventions and treaties. Leap hereby grants to you a personal, nonexclusive, non-commercial, non-transferable, non-sublicensable and fully revocable limited license to use the Website, the Application and the Leap Services in accordance with the Terms. No license is granted in relation to Leap’s marks or logos or any third party marks or logos. 

By submitting any information to Leap through your access to and use of the Website, Application or Leap Services (each, a “Submission”), you are licensing that Submission to Leap for the purpose of providing the Leap Services. Further, if you respond to any surveys or interviews about the Leap Services or provide feedback about any Leap protype products and services (collectively, “Feedback”), then you agree that Leap, in its sole discretion, can use that Feedback in any way, including in future enhancements and modifications to the Leap Services. You hereby grant to Leap and its transferees/assignees a perpetual, worldwide, fully transferable, sub-licensable, fully paid-up, irrevocable, royalty-free license to use, reproduce, modify, create derivative works from, distribute, and display the Submission and the Feedback in any manner for any purpose, whether in any media, software, or technology of any kind now existing or developed in the future, without any obligation to provide attribution or compensation to you or any third party.

Third Party Websites  

Our Leap Services are provided via the Programme Manager and Issuing Bank’s platforms and payments will be undertaken through payment network providers. We have no control over such sites and resources, and we are not responsible for such sites and resources. You further acknowledge and agree that we will not be responsible or liable, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with use of or reliance on any content, events, goods, or services available on or through any such site or resource. Any dealings you have with third parties while using our Services are between you and the third party, and you agree that we are not liable for any loss or claim that you may have against any such third party.

Availability  

The Website, Application and Leap Services availability and functionality depend on various factors, such as availability of any third party service providers websites or networks. Whilst we will endeavour to keep these operational at all times, we do not warrant or guarantee that these will operate and/or be available at all times without disruption or interruption, or that they will be immune from unauthorized access or error.

Changes to Leap Services

We reserve the right to modify, amend, enhance, or discontinue, temporarily or permanently aspects of the Website, Application or Leap Services (or any part thereof, including but not limited to the content) without notice, at any time. In addition, you hereby acknowledge that the content provided under these may be changed, extended in terms of content and form or removed at any time without any notice to you. You agree that we shall not be liable to you or to any third party for any modification, suspension, or discontinuance of Website, Application or Leap Services.

Authorizations

The User irrevocably and unconditionally authorizes Leap to:

• access his/her Leap Account which will include all Transactions and payment authorizations on the Leap Account and Card

• if necessary for the provision of Leap Services, disclose to the service providers or any other third party, all User information in its possession, as may be required by them to provide products and services on the Website and Application and the Leap Services.

 
Equipment

You are solely responsible for ensuring that the mobile device or other equipment with which a User or Child User accesses the Website or Application and uses Leap Services are kept secure and are suitable for such use. 

You will be permitted to download the Application for installation onto your mobile device and will be granted a limited, non-exclusive, non-transferable right to use the Application.

You agree to upgrade to the latest updated versions of Leap Services when notified.

The User accepts that for the purposes of the use of Leap Services, any instructions or Transaction emanating from the given registered device or mobile number shall be assumed to be initiated by the User. 

You must inform us by calling the Helpline in the event you lose possession or control of your mobile device on which Leap Services are accessed so that we can block any Cards, revoke any security codes or passwords.   

Confidentiality and Disclosure

Leap does not warrant confidentiality or security of the messages and notifications whether personal or otherwise transmitted as part of providing the Leap Services. Leap makes no warranty or representation of any kind in relation to the system and the network or their function or performance or for any loss or damage whenever and howsoever suffered or incurred by the User, resulting from or in connection with Leap Services.

The User unconditionally accepts that some information regarding Leap Services, messages, notifications or triggers may be transmitted to or stored at various locations accessible by Leap personnel and its affiliates within or outside the United Arab Emirates. The User authorizes Leap to provide information or details relating to the Leap Account and preferences for messages, notifications or triggers, within or outside the country.

Please refer to the   for additional details on your rights and obligations relating to confidentiality and disclosure whilst using the Card or Card Account. 

Security

You are responsible for keeping your Leap Account credentials, Card, PIN and its details safe.  In the event that the User loses possession or control of any mobile or electronic device on which the Leap Services are installed, or any payment instrument, the User must immediately notify and instruct Leap by contacting the Helpline to revoke the security codes or password, or block the Cards. Any Instructions received by Leap prior to receipt of such notification shall be deemed to have come from the User and Leap shall be entitled to rely on such Instructions, whether they actually originated from the User or not and will be indemnified from any security breach. The User shall be liable to Leap for any kind of unauthorized or unlawful use of any Security breaches mentioned in this clause or any fraudulent or erroneous instruction given, and any financial charges or liabilities thus incurred shall be payable by the User.

Leap is not required to make any investigations regarding the identity of the user gaining access to Leap Services.

Accuracy of Information and Authenticity of Transactions

Leap shall not be responsible for any incidental error which occurs in spite of necessary steps being taken to ensure the accuracy of the information provided to the User and no claim shall be brought against Leap in an event of loss or damage suffered by User as a consequence of the inaccurate information provided to Leap.

No Warranty

Except as otherwise provided in these Terms or required by applicable law, we make no representation, covenant or warranty and offer no other conditions, express or implied, regarding any matter, including, without limitation, the merchantability, suitability, fitness for a particular use or purpose, or non-infringement of Website or Application membership, any content, or any services or products purchased through the Website or Application.

Your use of the Website, Application or Leap Services is at your sole risk and it is provided on an “as is” and “as available” basis. We reserve the right to restrict or terminate your access to the Website, Application or the Leap Services at any time. Save as required by law, we make no warranties that access to the Website, Application or Leap Services will be uninterrupted or error-free; that the Website, Application or Leap Services will be secure; that the Website, Application, Leap Services or the server that makes the site available will be virus-free; or that information on the Website and Application will be correct, accurate, adequate, useful, timely, reliable or otherwise complete. If you download any content from the Website or Application, you do so at your own discretion and risk. You will be solely responsible for any damage to your computer or loss of data that results from the download of any such content. No advice or information obtained by you from the Website, Application or Leap Services shall create any warranty of any kind.

Refer a Friend Terms and Conditions

When do these terms and conditions apply

Leap Technologies Ltd for its own benefit and the benefit of its affiliates and subsidiaries (hereinafter referred to as “Leap”, “we”, “us”, ”our”) in the United Arab Emirates have introduced a “Refer a Friend” program (the “Program”) indefinitely or as otherwise notified by Leap on Leap’s Website, Application or through any other channel deemed appropriate by Leap (“Program Period”)

These Program terms and Conditions (“Terms”) apply in respect of the Program.

Who are eligible to participate in this program?

The program is open to existing users (the “Referrer”) who successfully refer New users to Leap (the “Referred”) who meet the “Eligibility Criteria” below during the Program Period.

Eligibility Criteria

In order for the Referrer to be eligible for the Program offer specified below, the Referred must fulfill the following to satisfy a Successful Referral:

• The Referred user must use the Referrer’s unique code (available within the App).

• The Referred user must complete KYC for themselves and their Child.

• The Referred user must top up their Parent Wallet by a minimum of AED 20

  
  

General Eligibility

• The Program is open to all existing Users of Leap.

• The Referrer can refer an unlimited number of New Users to Leap.

• This Program is only available in the UAE.

What is the Offer?

For the purposes of these Terms, subject to any of the Eligibility criteria (above), the “Offer” shall mean the following:

Referrer Criteria
- Receives a credit of AED20 for each successfully referred User

The Referrer

-Receives a credit of AED20 for each successfully referred User

The Referred
- Receives a onetime AED 20 credit.

Bonus: This offer is only available to existing Users of Leap who refer New Users who meet the Eligibility Criteria specified above.

-There is no cap to the amount of Successful Referrals

Limitation of Liability

Save for death or personal injury arising out of our negligence or as required by law, under no circumstances shall we, our affiliates, employees, directors, officers, agents or suppliers be liable to you or to any other person for any indirect, special, incidental or consequential losses or damages of any nature arising out of or in connection with the use of or inability to use the Website, including, without limitation, damages for loss of profits, loss of goodwill or loss of data. Without prejudice to the foregoing, in no event will we be liable for any amounts in excess of the amount paid by you for the product(s) in respect of which the claim arose.

Nothing in this Agreement is intended to impact any rights you or we may have under applicable law. We are committed to respecting individual rights including but not limited to moral, cultural and religious rights as enshrined in applicable law.

 
Indemnity

You agree to defend, indemnify and hold us, our directors, agents, affiliates, licensors and suppliers harmless from and against any and all claims, damages, costs and expenses, including legal fees, arising from or related to your use of the Website, Application, Leap Services and/or your breach of any representation, warranty, or other provision of these Terms, including the use by third parties accessing the Website using your account caused by your action or inaction.

Electric Communication

The service(s) offered under Leap Services are an electronic, internet-based service. Therefore, User understands and agrees that these Terms will be entered into electronically, and that the following categories of information (“Communications”) may be provided by Leap to the User, by electronic means:

• these Terms and any notices, amendments, modifications or supplements to it;

• records of transfers, payments and other Transactions done through utilizing the Leap Services, including without limitation confirmations of individual Transactions;

• any initial, periodic or other disclosures or notices provided in connection with Leap Services including without limitation those required by law;

• any User service Communications, including without limitation Communications with respect to claims of error or unauthorized use of the Service(s);

• all notifications sent in relation to transactions, transfers etc. or services used via Leap Services.

• any other Communication related to Leap Services.

All Communications in either electronic (or paper format) are considered to be “in writing”. User should print a paper copy of any important electronic Communication and retain the copy for their records.

Communications may be posted on the Website and/or the Application or delivered to the e-mail address provided by the User. Any electronic Communication (including e-mails) will be deemed to have been received by the User when Leap sends it to that User, irrespective of whether the User receives the communication.

Suspension, Reinstatement of any Services or Use of Leap Services

In the event that Leap at any time incurs a problem with the User’s use of any Leap Service(s), including without limitation a failure by Leap or Programme Manager in attempting to debit any of the User’s Card Account or to collect with respect to any of transfers or payments, without limiting any other right or remedy that Leap may have under these Terms and Conditions or otherwise, then Leap reserves the right to suspend the User’s right to use Leap Services immediately. The User understands and agrees that such action is reasonable for Leap to take in order to protect the User’s Card Account and Leap from any loss.

In the event of such suspension, the User may request reinstatement of the Service(s) by contacting Leap by email. Leap reserves the right to grant or deny reinstatement of the User to use any of the Service(s) under Leap Services.

Amendments or Changes to Services

The User agrees that Leap may modify/change Leap Services or Leap Accounts at any time without liability to Leap. Leap reserves the right to change the Terms of a particular Leap Service at its sole discretion.

Any such changes and their simple language summary thereof shall be communicated to the User through the Application or to their email address, or through other modes of communication in writing, 30 (thirty) days prior to the amendments taking effect. If you, the User, do not agree with any of these amendments, we suggest that you stop using the Leap Services immediately. Leap shall be entitled to assume your express consent through continued use of the Application in relation to such changes.

 
Termination

The User may terminate their Leap Account by emailing us on accountclosure@savewithleap.com or calling the Helpline and giving not less than 15 days advance notice to Leap in the case the User is on the Monthly Plan. Additionally, Users on the Yearly Plan may cancel the renewal of their Leap Account by providing notice to Leap Via Email or by calling the Helpline. Notwithstanding the termination of your Leap Account and Prepaid Card, The User shall remain accountable for all Instructions and/or Transactions effected prior to any cancellation of all services.

The User shall ensure to empty the available funds in their Leap Account on termination or funds standing to the credit of a Prepaid Account shall be reimbursed in accordance with the Card Agreement. The User may also request a transfer any available funds in their Leap Account back to their bank account. 

Leap reserves the right to terminate access to the Website, Application or any Leap Services provided to the User at any time by writing to the User if the User is in breach of these Terms or otherwise as set out herein.

You agree and acknowledge that Leap does not assume any responsibility with respect to, or in connection with the termination of the Website, Application or Leap Services operation and loss of any data. The provisions of these Terms that, by their nature and content, must survive the termination of these Terms in order to achieve the fundamental purposes of these Terms shall so survive.

Entire Agreement

You acknowledge and agree that these Terms constitute the complete and exclusive agreement between us concerning your use of the Website, Application or any Leap Services and supersede and govern all prior proposals, agreements, or other communications.

No Agency

Nothing contained in these Terms shall be construed as creating any agency, partnership, or other form of joint enterprise between us.

Assignment

We may assign or transfer our rights and obligations under these Terms in whole or in part without restriction.

No Waiver

Any failure to exercise or any delay by either party in exercising its rights or remedies under these Terms shall not be construed as a waiver thereof. The rights and remedies provided by these Terms are cumulative and are not exclusive of any rights or remedies provided by law.

Illegality

If any provision of these Terms is held to be illegal or unenforceable, the remaining Terms (or parts thereof) will not be affected and will remain in full force and effect.

Disputes and Governing Law

These Terms are governed by the laws of the Dubai International Financial Centre and all disputes arising here under are subject to the exclusive jurisdiction of the courts of the DIFC, United Arab Emirates.

Definitions

The following words and phrases have the meanings shown next to them.

“ATM” means Automated Teller Machine.

“Card” means any of the physical and/or digital/virtual card with a magnetic strip or chip or near field communication issued by the Issuing Bank and governed by the terms and conditions of the Cardholder Agreement.

“Card Account” means the account set up with the Issuing Bank and the associated records that the Programme Manager maintains to account for the value of claims associated with a Prepaid Card or any linked Savings Bucket.

“Cardholder Agreement” means the cardholder agreement to be entered into between Issuing Bank and any User governing the terms related to any Card. 

“Intellectual Property” means all intellectual property rights pertaining to the Website, the Application and Leap Services, including, but not limited to, inventions, patents and patent applications, trademarks, trade names, service marks, copyrightable materials, domain names and trade secrets, whether or not registered or capable of being registered.

“Kid, Kids” means a Child aged between 6 – 18 years of age.

“Leap Account” means the non-monetary service account on the Application which will be established by the User on the Website or Application, through which the Leap Services are provided. Such account shall only act as a link to any Card Account created with the same User details by the Programme Manager and Issuing Bank for the User.

“Merchant” means any establishment, retailer, corporate entity, person or other virtual establishment, supplying goods and/or services, which accepts/honors the Prepaid Card as a mode of payment.

“POS”     means Point of Service, or an electronic terminal available at Merchants whether local or international, capable of processing Transactions.

“Prepaid Card” means a general-purpose reloadable Card that may be used to undertake POS, ATM or online Transactions using money that has been loaded onto the Card in advance.

“Programme Manager” means NymCard Payments Ltd, the party appointed by us to provide Card Services, support and such other services as determined by us.

“Savings Bucket” means a segregated sub account linked to a Prepaid Card where funds can be deposited and that is blocked from undertaking Transactions and is solely used to facilitate savings in line with certain rules set up by the User.

“Transaction” means transactions made at an ATM or POS or a contactless transaction which is initiated through the use of a Prepaid Card and a PIN or signature, or and includes any cash withdrawal made available by you or the amount charged (or otherwise debited to the Prepaid Card) by us or a Merchant for any goods, service or benefit (whether or not such service was utilized by you) obtained by the use of the Card, the Card Number or the PIN or in any other authentication method, including mail, telephone, facsimile or internet orders.